The Optimal Dividend In The Continuous-time Compound Binomial Model

In this paper,we study the optimal dividend problem in the continuous-time compound binomial model.For the first time,the continuous-time compound binomial model is proposed by the GX Wang,Y Liu,B Zhang,and the related theory of the continuous-time compound binomial models in the bankruptcy probability has been relatively mature.On this basis,we introduce the concept of dividend,and discuss the optimal dividend problem of the continuous-time com-pound binomial model.This paper is divided into five parts:the first part is preface;the second part modifies the continuous-time compound binomial model and introduce the definition of the restricted dividend.The third part discusses some properties of the value function.The forth part derives the HJB equation and the corresponding optimal dividend strategy,and proves that the solution which satisfy HJB is the value function.The fifth part is summary content.